AmpereHour Energy Secures $5 Million Funding for Expansion
POWER & RENEWABLE ENERGY

AmpereHour Energy Secures $5 Million Funding for Expansion

Growth equity firm Singularity AMC, backed by prominent investor Madhusudan Kela, is investing Rs 5 billion (~$57.2 million) in Madhya Pradesh-based renewable energy company Bhilwara Energy. The investment aims to establish an integrated energy transition platform named HEG Greentech.

The agreement between the two companies has been signed through Singularity Growth Opportunities Fund II, under which Singularity AMC acquired a 9.6% stake in HEG and Bhilwara Energy for Rs 2.5 billion (~$28.64 million). Additionally, the firm holds the option to acquire a further 9.6% stake with a similar investment.

HEG currently holds a 49.01% stake in Bhilwara Energy and will divest 4.71% of its shares through this transaction. The partnership intends to create a robust energy transition platform focusing on various sectors, including power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems manufacturing for energy storage and electric vehicles.

Commenting on the development, Yash Kela, Partner at Singularity AMC, said, “We are excited to partner with Bhilwara Energy and HEG in their ambitious journey to create a leading energy transition platform that focuses on clean energy solutions, advanced carbon materials, and innovative battery technologies.”

The collaboration will emphasize driving organic growth, establishing new greenfield projects, and pursuing strategic acquisitions and partnerships. With this investment, Bhilwara Energy is nearing its total fundraising target of Rs 30 billion (~$343.71 million).

Earlier, in May 2024, HEG approved the demerger of its graphite business, transforming the existing company into a platform for green energy businesses. These include hydro and wind energy through Bhilwara Energy, energy storage solutions via RePlus, and advanced carbon business through The Advanced Carbons Company.

Replus Engitech, a subsidiary of Bhilwara Energy, commissioned a 550 MWh Battery Energy Storage System (BESS) manufacturing plant in 2021. The company also holds 1,261.52 MW of hydropower projects and 14 MW of wind power projects under its subsidiaries.

Additionally, Bhilwara Energy emerged as one of the winners of the Gujarat Urja Vikas Nigam’s Phase IV standalone BESS auction held in December 2024.

The investment comes when corporate funding for energy storage companies, including VC investments, public market funding, and debt financing, grew by 5% year-over-year. According to Mercom Capital Group’s Annual and Q4 2024 Funding and M&A Report for Storage & Grid, corporate funding for energy storage companies rose to $19.9 billion across 116 deals in 2024, compared to $19 billion across 120 deals in 2023.

The strategic partnership between Singularity AMC and Bhilwara Energy is expected to drive innovation and accelerate the transition to cleaner energy solutions in India.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Growth equity firm Singularity AMC, backed by prominent investor Madhusudan Kela, is investing Rs 5 billion (~$57.2 million) in Madhya Pradesh-based renewable energy company Bhilwara Energy. The investment aims to establish an integrated energy transition platform named HEG Greentech. The agreement between the two companies has been signed through Singularity Growth Opportunities Fund II, under which Singularity AMC acquired a 9.6% stake in HEG and Bhilwara Energy for Rs 2.5 billion (~$28.64 million). Additionally, the firm holds the option to acquire a further 9.6% stake with a similar investment. HEG currently holds a 49.01% stake in Bhilwara Energy and will divest 4.71% of its shares through this transaction. The partnership intends to create a robust energy transition platform focusing on various sectors, including power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems manufacturing for energy storage and electric vehicles. Commenting on the development, Yash Kela, Partner at Singularity AMC, said, “We are excited to partner with Bhilwara Energy and HEG in their ambitious journey to create a leading energy transition platform that focuses on clean energy solutions, advanced carbon materials, and innovative battery technologies.” The collaboration will emphasize driving organic growth, establishing new greenfield projects, and pursuing strategic acquisitions and partnerships. With this investment, Bhilwara Energy is nearing its total fundraising target of Rs 30 billion (~$343.71 million). Earlier, in May 2024, HEG approved the demerger of its graphite business, transforming the existing company into a platform for green energy businesses. These include hydro and wind energy through Bhilwara Energy, energy storage solutions via RePlus, and advanced carbon business through The Advanced Carbons Company. Replus Engitech, a subsidiary of Bhilwara Energy, commissioned a 550 MWh Battery Energy Storage System (BESS) manufacturing plant in 2021. The company also holds 1,261.52 MW of hydropower projects and 14 MW of wind power projects under its subsidiaries. Additionally, Bhilwara Energy emerged as one of the winners of the Gujarat Urja Vikas Nigam’s Phase IV standalone BESS auction held in December 2024. The investment comes when corporate funding for energy storage companies, including VC investments, public market funding, and debt financing, grew by 5% year-over-year. According to Mercom Capital Group’s Annual and Q4 2024 Funding and M&A Report for Storage & Grid, corporate funding for energy storage companies rose to $19.9 billion across 116 deals in 2024, compared to $19 billion across 120 deals in 2023. The strategic partnership between Singularity AMC and Bhilwara Energy is expected to drive innovation and accelerate the transition to cleaner energy solutions in India.

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?